The City of Oxbow General Fund has the following net resources at year-end: $253,000 unexpended proceeds...

The City of Oxbow General Fund has the following net resources at year-end: $253,000 unexpended proceeds of a state grant required by law to be used for health education. $13,000 of prepaid insurance. $603,000 rainy day fund approved by city council for use under specified circumstances. $202,000 budget stabilization fund to be used in the event of revenue shortfall. $279,000 provided for contractual obligations for capital projects. $29,000 unexpended proceeds of a tax required by law to be used for emergency 911 services. $1,625,000 total fund balance. Required: Prepare the fund balance section of the Balance Sheet.

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For the City of Oxbow - General Funds

Particulars	General Fund (In $)
Fund Balances :
Non-spendable :
Principal Fund	-
Long Term Loans	-
Prepaid Insurance	13,000
Restricted For :
State Grant for Health Education	253,000
Tax collected for Emergency 911 services	29,000
Rain Day Fund	603,000
Budget Stabilization Fund	202,000
Committed To :
Contractual Obligations of Capital Projects	279,000
Assigned To :
Unassigned :	246,000
Total Fund Balance	1,625,000

ekkarill92 answered 1 year ago

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